Tap Into Lionheart’s Construction Insurance Experience
Owner controlled insurance programs (OCIPs) or contractor controlled insurance programs (CCIPs), commonly referred to as “wraps,” that have been traditionally used for large, commercial projects with construction costs of $50 million or more now are being used for all sizes of residential construction projects. Although OCIPs are a relatively new insurance vehicle for residential construction projects, due to the proliferation of construction defect litigation, these insurance policies are fast becoming the only option for developers, general contractors and subcontractors who build single-family or multi-family homes in California, Nevada and other western states.
Lionheart Insurance Services can help you with both residential and commercial wrap-up projects for owners, general contractors and joint ventures. The benefits of our construction wrap-ups are numerous: You’re able to provide a comprehensive policy form for your insured with coverage for all exposures; every policy is tailored to the specific needs of the wrap-up; multi-year rates and multi-year coverage are available; and you can close coverage gaps for subcontractors not able to obtain adequate limits – all with the backing of exceptional financial strength to absorb risks and claims.